## Examples of *Bond Equivalent Yield* in a sentence

If the rate referred to in clause (1) is not so published by 3:00 p.m., New York City time, on the calculation date, the Treasury Rate will be the

**Bond Equivalent Yield**of the auction rate of the applicable treasury securities as announced by the United States Department of the Treasury on the interest determination date.If there was no preceding interest period, the Treasury Rate will be the initial interest rate.

**Bond Equivalent Yield**will be expressed as a percentage and calculated as follows:**Bond Equivalent Yield**= D × N × 100360 — (D × M) where “D” refers to the applicable per annum rate for treasury securities quoted on a bank discount basis and expressed as a decimal, “N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the applicable interest period.If the rate described in clause (i) above does not appear in H.15 Daily Update or another recognized electronic source at 3:00 P.M., New York City time, on such Calculation Date (unless the calculation is made earlier and the rate is available from one of those sources at that time), the Treasury Rate will be the

**Bond Equivalent Yield**of the auction rate, for such Treasury Interest Determination Date and for Treasury Bills having the Index Maturity, as announced by the U.S. Department of the Treasury.The "

**Bond Equivalent Yield**" means a yield calculated in accordance with the following formula and expressed as a percentage: D x N**Bond Equivalent Yield**= ------------- x 100 360 - (D x M) where "D" refers to the applicable per annum rate for Treasury Bills quoted on a bank discount basis, "N" refers to 365 or 366, as the case may be, and "M" refers to the actual number of days in the interest period for which interest is being calculated.**Bond Equivalent Yield**will be expressed as a percentage and calculated as follows:**Bond Equivalent Yield**= D × N × 100360 – (D × M) where “D” refers to the applicable per annum rate for treasury securities quoted on a bank discount basis and expressed as a decimal, “N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the applicable interest period.